Weak U.S. labor markets are likely to justify easy money policies for quite a while longer, a top Federal Reserve official said on Tuesday.
Most U.S. business economists expect the Federal Reserve to raise benchmark interest rates within six months by between a quarter and a half percentage point, according to a survey released on Monday.
The dollar soared against the yen on Friday after a government report showed U.S. employers cut fewer jobs than expected last month, boosting hopes a U.S. economic recovery was on track. The renewed optimism also encouraged investors to buy stocks and high-yield currencies such as the Australian and New Zealand dollars, while the euro rose as concern about Greece's debt crisis ebbed after Thursday's successful debt auction.
China will seek to heal social rifts and spur home-driven growth with more public welfare and rural spending even as the government tightens its belt after a burst of feverish spending, Premier Wen Jiabao said on Friday.
The European Central Bank took a small step toward unwinding its extraordinary support for the euro zone economy Thursday, but it forecast a fragile recovery and left much of its cash buffer for banks in place.
A measure to give some 57 million elderly people, veterans and persons with disabilities a $250 check was rejected by the Senate on Wednesday, a setback for the powerful seniors' lobby.
A senior Federal Reserve official said on Tuesday that an extended period of ultra-low U.S. interest rates invites speculative behavior and is risky.
Commodity prices recovered in February after falling in the first month of the year despite China's tighter monetary control regime and US Federal Reserve raising rates for emergency loans to banks which initally sent jitters down the commodity street. However, prices of key commodities have rebounded with crude oil rising as much as 10 percent while key Nymex traded Copper futures have gained 7.1%. Gold gained 2% in February and Spot Gold in New York closed the month at $1,119 still far short o...
Consumer spending increased slightly faster than expected in January as consumers dipped into their savings amid a small rise in incomes, a government report showed on Monday.
U.S. consumer spending increased slightly faster than expected in January as consumers dipped into their savings amid a small rise in incomes, which could help sustain the economic recovery.
Snowstorms have repeatedly battered parts of the United States this winter, making it more difficult to discern returning weakness in the economy from
While I can't say I'm happy about the prospects for more deflation, I am happy about Bloomberg's recent interactive article U.S. Not Out of the Deflation Woods Just Yet (www.bloomberg.com, February 23, 2010).
Two top Fed officials on Friday offered divergent signals on interest rates, with one arguing they should remain near zero for at least six months and another wishing to raise them sooner rather than later.
A top Federal Reserve official said on Friday an erratic recovery dictates low rates for at least six months, while prominent economists said unsettled U.S. financial conditions are more of a drag on the economy than generally believed.
Japan's narrowest measure of consumer inflation matched a record annual fall in January in a sign weak demand will prolong deflation and may prompt the Bank of Japan to expand its supply of funds to the market by mid-year.
The euro languished near one-year lows against the yen on Friday, while commodities and Asian stocks struggled in tepid trade as worries about Greece and the health of the world economy took hold.
India's food inflation based on wholesale prices rose to 17.58 percent in the twelve months to February 13. According to official figures by country's commerce ministry, primary articles price index was up 15.84 percent for the same period while fuel price index was up 9.89%.
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday a weak job market and tame inflation warrant low interest rates for an extended period, dampening speculation a policy tightening might be nearing.
Europe and U.S. stock indices edged up cautiously ahead of Fed Chairman Bernanke's semi-annual testimony on monetary policy and the state of the economy at 10:00 am EST.
Bank of Japan Deputy Governor Hirohide Yamaguchi said the central bank was ready to act to beat deflation, leaving room for more monetary easing amid a steady drumbeat of government pressure for BOJ steps to support the economy.
The euro turned lower against the dollar on Tuesday after a weak German survey raised concerns about the outlook for the euro zone economy. Early demand for euros fizzled after data showed Germany's Ifo business sentiment index unexpectedly fell this month, while Italian confidence data and consumer spending numbers from France were also below forecast.
Sterling fell broadly on Tuesday, as Bank of England Governor Mervyn King said risks to the bank's central view of a gradual recovery remained to the downside and further quantitative easing may be needed.
